Gold - Heading to 1340 (200d ema) then risk is skewed down

FX:XAUUSD   Gold Spot / U.S. Dollar
250 10 8
Looking at US QE announcments, each one was a sell the news. Although QE 2 rallied for a few days into resistance then sold off back to QE announcement lows and QE 3 went sideways for 3 weeks before selling off into current lows. QE 1 and Operation Twist both made announcment highs and sold off breaking announcment lows. With gold rallying in anticipation of the ECB announcing their version of QE I would think history could repeat. This rally imho is buy the rumor and once the news comes out it could be a sell the news?
elp elp
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Elpuerto, excellent as always. tx
Great! so quick reply.Thanks. In your opinion what sort of price level to expect in pullback/retracement during this time frame?
YaKa SaifurRahman
I dont know. if 1350 holds.. 1300 then we see.. max is 900 down. see my previous post.
-1 Reply
Hi looks like its really heading to $1340 region. Within what sort of timeframe you reckon will it hit $1340
YaKa SaifurRahman
will probably get close in 2 weeks but could take another 3 weeks to reach with little top oscillations.
so maybe 5 weeks altogether... that will give us time to see the steam fade.
-1 Reply
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